Brexit's damage to UK economy would be felt until at least 2020 – EIU

Thinktank paints a grim picture of immediate aftermath and beyond if Britain votes to leave EU, including recession

A vote to leave the European Union would trigger economic and political convulsions in the UK, plunging the country back into recession and sending the pound sharply lower, a forecasting group has warned.

Investors would rush to dump UK assets including shares and bonds in the immediate aftermath of voters choosing Brexit, according to the Economist Intelligence Unit.

Related: FTSE 100 hits three-month low as Brexit fears grow